Global Infrastructure Partners Agrees to Acquire TCR

Investment in the world’s largest independent ground support equipment lessor strengthens GIP’s Transport Platform

NEW YORK--(BUSINESS WIRE)--Global Infrastructure Partners (“GIP”), a part of BlackRock, a leading global infrastructure investor, today announced that it has entered into a definitive agreement to acquire TCR, the largest independent lessor of airport ground support equipment, from 3i Infrastructure plc. Members of TCR’s management team will invest alongside GIP.

The transaction reflects GIP’s long-term conviction in global aviation and its strategy of investing in essential aviation infrastructure businesses with strong growth potential and resilient business models.

Headquartered in Brussels, TCR owns and manages a global fleet of airport ground support equipment, supporting safe and efficient aircraft operations across more than 200 airports worldwide. With a diversified customer base and long-term contractual relationships, TCR is integral to efficient airport operations globally.

“We are delighted to partner with TCR, the clear global leader in ground support equipment leasing,” said Michael McGhee, Deputy Chairman of Global Infrastructure Partners (GIP). “TCR combines mission-critical airport infrastructure with a highly scalable growth platform, led by an exceptional management team. We look forward to working closely with management to accelerate the company’s international expansion and further strengthen its position at the heart of the global aviation ecosystem.”

The transaction is subject to customary closing conditions and regulatory approvals.

About Global Infrastructure Partners (GIP), a Part of BlackRock

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors.

GIP’s scaled platform has over $193 billion in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients’ capital and create positive economic impact for communities. For more information, visit www.global-infra.com.